Bath & Body Works, Inc.

What does Bath & Body Works, Inc. own?

The company owns the Bath & Body Works retail chain and the White Barn candle brand. It operates approximately 1,800 stores in North America plus digital channels.

Is Bath & Body Works publicly traded?

Yes. The company trades on the New York Stock Exchange under the ticker BBWI. It was spun off from L Brands in August 2021 as an independent public company.

Who founded Bath & Body Works?

Les Wexner's The Limited launched the brand in 1990 in New Albany, Ohio. Wexner built it into a division of L Brands before the 2021 spinoff created the independent company.

Where is Bath & Body Works headquartered?

The company is headquartered in Columbus, Ohio, and operates its principal distribution and candle manufacturing facility in Etna, Ohio.

Who owns Bath & Body Works?

As a public company, ownership is dispersed among institutional investors including Vanguard, BlackRock, and State Street, plus retail shareholders. No single entity controls the company.

How much revenue does Bath & Body Works make?

The company reported fiscal 2025 net sales of $7.291 billion, operating income of $1.126 billion, and net income of $649 million for the year ended February 2026.

Who is the CEO of Bath & Body Works?

Daniel Heaf has been CEO since May 2025, succeeding Nick Coe. He previously held executive roles at Nike and Burberry.

Les Wexner's The Limited launched Bath & Body Works in New Albany, Ohio, in 1990 as a bath products store inspired by English apothecary traditions. The first store opened in a Boston suburb, and the chain expanded rapidly through the 1990s as a mall anchor.

The company consolidated under L Brands, Wexner's renamed retail group, and grew through acquisitions and product innovation. The 1998 launch of the White Barn Candle Company line established home fragrance as a core category, and the three-wick candle became a signature product. Seasonal fragrances and limited-edition packaging built a devoted customer base and made the chain a mall staple.

The 2010s brought challenges. Mall traffic declined, and L Brands' broader portfolio, including Victoria's Secret's mounting struggles, drew investor pressure. In 2020, activist investor criticism and the pandemic's retail disruption pushed Wexner to retire after 57 years and split the company.

The August 2021 separation created two public companies: Bath & Body Works, Inc. retained the name and the profitable business, while Victoria's Secret & Co. took the lingerie chain. Nick Coe, who had led the brand since 2018, became the first CEO of the independent company.

Coe's tenure focused on digital growth, loyalty program expansion, and off-mall store formats. He departed in 2025, and Daniel Heaf, a former Nike and Burberry executive, was named CEO in May 2025. Heaf's mandate has been stabilizing sales after two consecutive years of decline and refreshing the brand for younger consumers.

Fiscal 2025, ended February 2026, produced net sales of $7.291 billion, down roughly 2 percent from the prior year. Operating income fell to $1.126 billion and net income to $649 million as the company invested in marketing and store updates amid softer mall traffic.

The company publishes an annual ESG report but holds no major third-party certifications:

Product Standards: The company states its products are cruelty-free and Leaping Bunny certified, and it has eliminated parabens from most formulas. However, ingredient transparency is limited compared with clean beauty brands.

Environment: Commitments include reducing greenhouse gas emissions under science-based targets, increasing recycled packaging content, and transitioning to sustainable palm oil sourcing through RSPO membership.

Community: The company runs the Bath & Body Works Foundation supporting women's health and has donated to cancer research, though at a smaller scale than its former parent L Brands' historical philanthropy.

The company has appeared on Fortune's World's Most Admired Companies list and received recognition for its supply chain efficiency. Its Candle Day event is regularly cited as one of the most successful retail promotions in specialty retail. The brand's proprietary fragrances have won consumer awards, and its loyalty program is frequently ranked among the top retail programs for engagement.

Sales Decline: Two consecutive years of declining sales through fiscal 2025 have drawn analyst criticism and questions about whether the brand can reverse mall traffic trends. The stock has underperformed the broader retail sector.

Ingredient Transparency: Advocacy groups including the Environmental Working Group have criticized limited ingredient disclosure on proprietary fragrances, though the company meets regulatory requirements.

Labor: The company has faced periodic criticism over retail worker scheduling and benefits, though less prominently than competitors. No major labor disputes or unionization campaigns have reached scale as of November 2026.